Powder River Basin 8,800-Btu/lb coal prices closed lower on Wednesday, while barged Central Appalachian thermal coal prices increased, narrowing the discount to the CAPP rail (CSX) coal price. In the West, PRB coal prices fell 5 cents-30/st cents along the 2014-2015 curve. Call options and futures contracts were heard to have traded a pairs in the over-the-counter session, PRB 8,800 call option Cal 2016 with a strike price of $17/st traded at a premium of $1/st for 30,000 st/month. The options trade was paired with a position in the futures market, as the Cal 2016 package traded at $14.80/st for 10,000 st/month.
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